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Fatwa and Its Shariah Methodology in Islamic Finance

Fatwa plays a very significant role in Shariah by providing different resolutions and solutions to the Muslim community when it is needed to ensure the compliance with principles of Shariah and commends of God. It should be understood that fatwa is not confined to particular section in Islamic l...

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Bibliographic Details
Main Author: Ahcene Lahsasna
Format: Journal
Language:English
Published: Universiti Sains Islam Malaysia 2012
Subjects:
Fatwa
Sources of shariah
Resolutions
Methodology
Shariah board
Online Access:http://ddms.usim.edu.my/handle/123456789/5651
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spelling my.usim-56512015-03-02T06:44:25Z Fatwa and Its Shariah Methodology in Islamic Finance Ahcene Lahsasna Fatwa Sources of shariah Resolutions Methodology Shariah board Fatwa plays a very significant role in Shariah by providing different resolutions and solutions to the Muslim community when it is needed to ensure the compliance with principles of Shariah and commends of God. It should be understood that fatwa is not confined to particular section in Islamic law but it covers the entire sections and subsection of Islamic law including business, finance and trade. Today, fatwa takes a different shape in Islamic finance; it is introduced and presented in the industry in the form of resolutions issued by Shariah board members who represent Shariah corporate governance body in the structure of the Islamic financial institutions. The resolution is further structured in the form of Shariah endorsement which is part and parcel of product approval as required by the regulators. The present paper discusses fatwa and its methodology in Islamic finance to ensure a sound process of issuing an accurate resolutions that comply with the rules and guidelines that have been set in Islamic jurisprudence. 2012-06-29T03:45:41Z 2012-06-29T03:45:41Z 2011 Journal 2232-1047 http://ddms.usim.edu.my/handle/123456789/5651 en Universiti Sains Islam Malaysia
institution Universiti Sains Islam Malaysia
building USIM Library
collection Institutional Repository
continent Asia
country Malaysia
content_provider Universit Sains Islam i Malaysia
content_source USIM Institutional Repository
url_provider http://ddms.usim.edu.my/
language English
topic Fatwa
Sources of shariah
Resolutions
Methodology
Shariah board
spellingShingle Fatwa
Sources of shariah
Resolutions
Methodology
Shariah board
Ahcene Lahsasna
Fatwa and Its Shariah Methodology in Islamic Finance
description Fatwa plays a very significant role in Shariah by providing different resolutions and solutions to the Muslim community when it is needed to ensure the compliance with principles of Shariah and commends of God. It should be understood that fatwa is not confined to particular section in Islamic law but it covers the entire sections and subsection of Islamic law including business, finance and trade. Today, fatwa takes a different shape in Islamic finance; it is introduced and presented in the industry in the form of resolutions issued by Shariah board members who represent Shariah corporate governance body in the structure of the Islamic financial institutions. The resolution is further structured in the form of Shariah endorsement which is part and parcel of product approval as required by the regulators. The present paper discusses fatwa and its methodology in Islamic finance to ensure a sound process of issuing an accurate resolutions that comply with the rules and guidelines that have been set in Islamic jurisprudence.
format Journal
author Ahcene Lahsasna
author_facet Ahcene Lahsasna
author_sort Ahcene Lahsasna
title Fatwa and Its Shariah Methodology in Islamic Finance
title_short Fatwa and Its Shariah Methodology in Islamic Finance
title_full Fatwa and Its Shariah Methodology in Islamic Finance
title_fullStr Fatwa and Its Shariah Methodology in Islamic Finance
title_full_unstemmed Fatwa and Its Shariah Methodology in Islamic Finance
title_sort fatwa and its shariah methodology in islamic finance
publisher Universiti Sains Islam Malaysia
publishDate 2012
url http://ddms.usim.edu.my/handle/123456789/5651
_version_ 1645151721962340352
score 13.222552

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